Davenport, FL

Buying a home in Central Florida is like standing in the middle of a stampede right now. I’ve been working with a buyer in Canada who is looking for a home in Orlando, Florida.

Properties that are well priced (very low) in Central Florida sell within a few days. So I stressed to him the importance of moving quickly to try to get a property under contract. We found a property he liked and he was willing to put an offer in sight unseen as long as I checked it out first and made sure it’s in decent condition.

It was and he decided to make the offer. We got the proof of funds and escrow deposit together and started writing up the contract. It took about 24 hours to get everything in order. I sent the contract to him and he faxed it back to me as soon as he got home from work the next day.

By the time he faxed it back and I called the listing agent to let her know we were making the offer they had already accepted another offer. Even I was surprises at how fast the home sold. This property was a bank owned property and sold within 36 hours of coming on the market.

I always make a point of telling home buyers we have to have the proof of funds and escrow deposit in place as soon as possible. When you see that home come on the market that you know is a great home and a great deal you have to be ready to jump on it. Getting your funds into one account and wiring the escrow deposit may be an annoyance but trust me you’ll be glad you did when that unbelievable deal comes along and you’re ready to make an offer immediately.

You have to feel the need for speed. You don’t want to be in second place in this market.

Davenport is a small town with a population of around 2,000. It is located around 40 minutes outside of Orlando, Florida in Polk County. Davenport's proximity to Walt Disney World attracts many tourists, most of them British, that stay for long holidays during the summer and winter months.

The small-town nature and charm of Davenport has long been a draw for vacationers wanting to visit Central Florida. Numerous short-term holiday homes in the city are rented out by British tourists, who travel from England during the harsh winters. In addition to an abundance of vacation houses, Davenport is home to large, sprawling mansions. Because of the availability of space in the town, and the low population, spacious lots are able to be developed into upscale residences.

Since the late 1990s, Davenport has grown from a small village to a large town. In 2005, a large outdoor shopping center called Posner Park was developed. Residents have welcomed the new addition, as now they do not have to travel outside Davenport to shop. The famous Champions Gate Golf Resort is only 15 minutes away, providing locals and tourists with a variety of golf-centric entertainment options.

Whether you are looking for a short-term holiday rental, or a quiet place away from the commotion of the big city, Davenport (which used to be known as Baseball City) has all its bases covered.

DAVENPORT, FL MLS LISTINGS

• Location: Polk County, Florida.
• Property Type: Single Family Homes, Vacation homes, town homes, condominiums
• Amenities: Gated Communities, Vacation Communities, lakes, parks
• Density: 2,000 Residents

To see all of The Davenport, Florida Foreclosures Homes For Sale you can visit Davenport Foreclosure Homes For Sale or visit our Bank Owned page and view all of the bank owned lisitngs by city or Community around the Central Florida area.

Which one is a better investment? That depends on what you consider a good investment. I think long term rentals are a better monetary investment. While short term rentals are a better investment on your vacation fun.

People from all over the world buy vacation rental homes in Davenport, Florida for various reasons. Those reasons could be for monetary gain, the freezing cold weather in other parts of the world, or people just really want a place to get away. As I’m writing this, it’s 70 degrees and sunny blue skies outside. Crystal clear skies all that way, that’s Florida for you.

I can’t say I blame someone for wanting to move here and get away from the chill for a while. No matter what your reasons for buying are, and no matter what your goals are, either way you’re making a good investment on your future.

So let’s break down long term vs. short term vacation rentals in Davenport, Florida and see which one is right for you.

Long term rentals:

Here are the pros...

1) You’ll likely get a better cash return on your investment.

2) You have limited overhead. You don’t have to worry about trying to rent out the property every week.

3) You’ve got a security deposit in case someone damages the property.

4) If you have a mortgage on the property, essentially, a renter is paying your mortgage for you (it doesn’t get any better than someone else paying for your house. Like they say, free is the best price there is).

5) And best of all, housing prices are going to rise in the next 5 years, and by the time you’re ready to sell, the property will be worth more than it is now.

So what are the cons...

1) You will not have use of the property during your holiday and summer vacations.

2) I can’t think of any other cons. LOL

Short term rentals:

The pros on short term rental are…

1) You’ve got the ability to use the property anytime you want to vacation (And That’s A Big Pro).

2) Your property will likely be closer to the attractions.

The cons are…

1) You will not receive as large of a return on your investment (monetarily).

2) If you have a mortgage, it is very likely that you will not even cover your costs.

3) You’ll probably be lucky to rent out the property for 25 weeks of the year. There is more overhead because the property is being run almost as if it were a hotel.

4) More time and effort will be necessary on your part to keep the home rented.

I’ll try to be fair and balanced with this assessment. If you’re looking for a monetary investment with a good return, long term rentals make more sense. If you’re looking to use a property as a vacation home or for holiday rentals, a few times a year, a short term vacation rental home in Davenport, Florida may be the way to go.

No matter what property you buy, or how you use it, you’ll still wake up to beautiful sunrises in sunny Central Florida.

By the way, that’s my beautiful wife with her fishing buddy Sebastian yesterday morning at sunrise.

Disclaimer: All statements within this post are my opinion (but they are good ones).

I’m sure you’ve heard people ask this question before. I was asked this question just this morning. A home buyer wanted to know whether they were going to be responsible to pay the rest of the seller’s debt on their promissory note.

Of course I told them no, the buyer is not responsible for paying the seller’s debts. But it really got me thinking. This particular buyer had no idea what the short process was or how it worked.

I decided to post a basic description of the short sale process in the hopes that I can use it in the future to help another buyer .

So here it goes:

A short sale happens when a home owner sells their house and they owe more on the mortgage than the current market value of the property. The contract of sale is still between the buyer and the seller. The bank approval is a 3rd party contingency to the contract. The amount that is still owed on the promissory note after the short sale is closed, in some cases, may still be the seller's responsibility.

The only thing the buyer pays is the purchase price of the home and your closing costs. In order for the lien to be removed from the property the bank has to approve the sale. The banks would rather approve a short sale than go through foreclosure proceedings as they save money that way.

One issue with a short sale is that it can take 2-6 months (and in some instances more) to get this approval from the bank. Another very important thing to remember when dealing with a short sale is that the bank will not approve it unless the sales price is close to fair market value.

A low offer will not work on a short sale because the bank will just reject the sale. And again, it could take 6 months to find out the bank said no. If handled properly, a short sale can be a very good way to get a well priced home. It will require patience and tenacity to get it done. But if you want to buy or sell a short sale in Davenport, Florida give me a call and I'll help you seal the deal.

Image courtesy of...yours truly, I got within 3 feet of this guy before he turned tail and ran. Sissy!

Today “The Tutas Clan” decided to take the day off of work and have some family time. I bought my wife a Nintendo Wii for her birthday and today we put it to good use. It’s great family entertainment. We had a lot of fun and, as you can see from the videos, I’m the king of the Wii. Ok…not really. I won one event.

Sometimes you just have to stop and smell the roses and try to enjoy your life. Today we did. I hope you all enjoyed your day as well.